Portside Wealth Group LLC Reduces Stock Position in Abbott Laboratories $ABT

Portside Wealth Group LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,711 shares of the healthcare product maker’s stock after selling 517 shares during the quarter. Abbott Laboratories comprises 0.9% of Portside Wealth Group LLC’s holdings, making the stock its 21st largest position. Portside Wealth Group LLC’s holdings in Abbott Laboratories were worth $6,081,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. boosted its position in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. Elequin Capital LP purchased a new position in Abbott Laboratories during the first quarter worth about $30,000. Vision Financial Markets LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at about $33,000. Accent Capital Management LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $38,000. Finally, Curio Wealth LLC raised its position in shares of Abbott Laboratories by 15,250.0% during the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after buying an additional 305 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.2%

Shares of ABT stock opened at $130.29 on Tuesday. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a 50 day moving average price of $130.34 and a 200 day moving average price of $131.35. The stock has a market capitalization of $226.55 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, October 15th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, October 15th. Abbott Laboratories’s payout ratio is presently 29.57%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ABT shares. Sanford C. Bernstein increased their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Barclays raised their price objective on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. BTIG Research reaffirmed a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Evercore ISI lowered their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.